Constellation Brands Q4 2020 Earnings Report
Key Takeaways
Constellation Brands reported a 6% increase in net sales for Q4 2020, reaching $1.903 billion. The beer business delivered strong growth, while the wine & spirits segment saw premiumization gains. EPS was $2.04, and comparable EPS was $2.06. The company is navigating the challenging operating environment presented by COVID-19.
Generated record operating and free cash flow for fiscal 2020.
Beer Business posted import beer depletion growth of 11.4% and overall depletion growth of 10.8% driven by the Modelo and Corona Brand Families.
Depletion growth accelerated to more than 4% for the Wine & Spirits Power Brand portfolio.
Operating margin increased 120 basis points to 28.9% for Wine and Spirits, driven by mix benefits and lower marketing and SG&A spend.
Constellation Brands
Constellation Brands
Constellation Brands Revenue by Segment
Forward Guidance
Fiscal 2021 EPS guidance is unavailable at this time due to potential impacts on the business from COVID-19. However, pre-COVID-19 business target assumptions for fiscal 2021 are available.